How to overcome the 21M limit of Bitcoins as adoption increases?


Well then, what needs to be happening is similar digital currencies appearing periodically along the way because future generations should also have the ability to mine newly formed currencies so that they can enjoy the freedoms we can now. Silver runs alongside gold, never as valuable, but surely as effective a resource to be traded for goods and services. Likewise other digital currencies, should be freely capable of running alongside bitcoins for future generations to enjoy the value of.

Perhaps though, due to the lack of intrinsic value of any digital currency, which is essentially as great as the next massive EMP blast, the new digital currency should perhaps wait until bitcoins have grown substantially in value before lending itself as another easier currency to mine. And there should always be exchange rates between the individual digital currencies. However, we must be careful to avoid what was caused by having the gold and silver standards of our nation's past,...

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When Bitcoin was first created and didn’t have nearly the popularity that the coin has at this moment in time, it was believed that the standard system would be good enough for the future of the currency. However, on light of certain events and based on the increasing popularity of the cryptocurrency, it seems like the block size limit may actually need to be increased from 1 MB.

If you’re not really a fan of digesting the technical aspects of Bitcoin and how it works, this probably wouldn’t be of concern to you. However, chances are that most Bitcoin users from all around the world hope that Bitcoin will actually become the currency of the future, but how can that really happen in the case that it currently only handles 7 transactions per second? Yes, that’s right. Each second, only 7 people are able to make a transaction, which is mostly due to the block size limit of a Bitcoin. To put things into a better perspective, only 420 people can make a transaction during...

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Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities

In a sense, bitcoin could be considered an upgrade from gold. Some even consider it as gold with transformational, information-like properties.

That’s because bitcoin builds upon the properties of gold and has spawned an information-based variation, he said.

As an example, Gilder believes that increased government control of money, such as capital controls or quantitative easing, means more uneasiness in terms of economic sentiment.

“The more money [governments] print, the more uncertain the people become,” said Gilder. “Bitcoin is based on the understanding that the money supply doesn’t really matter.”

Adrian Ash, the head of research at BullionVault, a gold storage company, pointed out:

“Digital gold currencies have been tried and failed many times in the last 20 years. They...

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Bitcoin is a new type of money. This presentation talks about how bitcoins can possible break the fiat banking system protocol.

The first set of slides were there to depict the following story:

Think of a forest, Where a mouse, Morton, befriended an elephant called Joe. Now Morton would threaten other mice in his clan in the name of Joe and take hold of their food. Other mice were helpless because Morton was backed by a bigger animal, and had no option, but to give away their hard earned food. In the course of time, all mice befriended a bigger animal. Dave befriended Carroll the fox and Alice befriended Ethan befriended Noah the Lion and so on. Assuming all of them were collecting food, each one of them could now threaten everyone else and force others to give away their food. The food each mouse ends up with will be proportional to the strength of their big animal friend.

In 2008 came a smart mouse who knew about the happenings in the alienated...

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Two attempts to increase Bitcoin’s block size limit via hard forks — Bitcoin XT and Bitcoin Classic — have failed to gain much support in terms of network hashrate, but early bitcoin advocate and angel investor Roger Ver is not giving up on the cause. Ver is currently testing a new mining pool at, and he’s put together a new development team to work on an alternative to Bitcoin Core, the reference implementation of the Bitcoin protocol.

Bitcoin Magazine recently reached out to Ver to get more details on his plan to increase the block size limit by way of a hard fork.

A Work-in-Progress

According to Ver, his plan for hard forking Bitcoin is still a work-in-progress. “I still have lots more research and thinking to do,” he told Bitcoin Magazine. “The first step is to actually have our pool up and running. I think you will see our first block mined on the network this coming week.”

The mining pool mined its first block a few days...

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“The next step in the evolution of money”

“A de-centralized trust network”

“Revolutionary Cryptocurrency”

“Power to the people”

“Lives without borders or limits”

The Currency of The Future…

The above headlines have been taken from various articles and literary publications since the creation of Bitcoin. It’s indicative of the acceptance and affinity shown by the global community, towards the arrival of a currency with global usage potential.

Were there any realistic grounds to these sentiments and speculations? Are we still as optimistic about Bitcoin’s future? And more importantly, do we have any grounds to remain optimistic?

So, let us attempt to systematically attempt to answer these questions, with the least possible amount of dreary detail.

Functions that Bitcoin needs, in order to be considered as “Money”

Generally an instrument can be classified as money if it can serve as a medium of exchange, a unit of...

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Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished – even soaring to over $1,000 an ounce in recent times.

Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities

It's no wonder, then, that companies like Netagio now allow people to trade bitcoin for precious metals like gold – it is a sign that investors want the ability to trade BTC seamlessly with other investment vehicles.

In a sense, bitcoin could be considered an upgrade from gold. Some even consider it as gold with transformational, information-like properties.

Digital gold with a twist

George Gilder, author of the forthcoming book Bitcoin and Gold: The Information Theory of Money, is impressed with bitcoin and has...

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The following article represents the opinion of its author and does not constitute as investment advice. Bitcoin is a very volatile currency and you’re putting your capital at risk when investing in it (just like any other investment).

2017 will be upon us soon enough, so it should come as no surprise that many bitcoin experts are looking ahead to the upcoming year. Given that bitcoin has built in features to encourage its price to rise over time, and given the growing acceptance of both non-government currencies and digital currencies, there are plenty of reasons to be optimistic.

Understanding the anti-inflationary features of bitcoin is essential to understanding its price. Bitcoin’s price back in May weighed in at “only” about $450. In the run up to the new supply for mined blocks being cut in half bitcoin’s price began to rise, breaking the $750 mark in mid June. Bitcoin’s price has declined a bit since, but is still about $600, far higher than it was earlier...

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